MIDEAST STOCKS-Dubai crosses 3,000 for 1st time in 5 yrs; Egypt rallies | Reuters:
"Dubai's bourse closed above 3,000 points for the first time in five years on Thursday as investors repositioned into stocks ahead of earnings and dividend season, while Egypt's bourse rallied on prospects of fresh investment inflows.
Dubai index climbed 0.9 percent to 3,013 points, its highest close since October 2008.
"The positive moves come after a couple days of consolidation, which created opportunities for people to position into select stocks going into year-end," said Marwan Shurrab, fund manager and head of trading at Vision Investments.
Shares in Union Properties rose 1.9 percent, extending year-to-date gains to 165.8 percent. Emaar Properties climbed 1.6 percent and contractor Arabtec added 1.2 percent."
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